The Future Of Blockchain Gaming: Metaverses, Decentralization, Ownership, Income Opportunities, And More

As blockchain technology weaves golden threads into exciting new use cases, promising solutions like cryptocurrencies, NFTs, and DeFi are continuously gaining more attention, cementing themselves as significant contributors to overall ecosystem growth. Amidst this growing marketplace, blockchain gaming is another promising sector that has proven its potential. Because blockchain games facilitate the play-to-earn (P2E) model, there has been a surge in demand for such games, partly driven by the economic crises due to the Covid-19 pandemic. Per data from the BGA Blockchain Game Report, more than 840,000 unique users joined at least one of the available play-to-earn games, growing the aggregate usage by 121% in terms of unique and active wallets between June and July 2021. The Early Days The early successes of blockchain games like Huntercoin, Crypto Kitties, and Axie Infinity, among others, brought a paradigm shift in how in-game asset ownerships work via NFTs, native tokens, and virtual asset marketplaces, paving the way for a fully decentralized global gaming economy. For instance, one of the oldest companies in the blockchain gaming scene, XAYA, has been involved in blockchain development since 2013. The company is credited with launching the world’s first blockchain game, Huntercoin, in February 2014. By design, Huntercoin was a fully decentralized Massively Multiplayer Online (MMO) game running on its own blockchain. It was...